Bitcoin briefly bounces back over $100,000

Bitcoin rallied to over $100,000 at 3 p.m. ET today on a soft inflation report and growing optimism that President-elect Trump will move quickly to overhaul the nation’s crypto policies.

According to Reuters, sources say the new administration could take action as early as next week as Trump’s new SEC pick, crypto advocate Paul Atkins, takes the helm of the agency from Gary Gensler, who has maintained a largely anti-crypto position during his tenure.

It’s the third time bitcoin has cracked the six-figure mark. It first hit the symbolic milestone on December 4 and then again on January 6, but it has whipsawed wildly in that period, briefly dipping below $90,000 on Monday. As of 3:45 p.m., the crypto had slipped back below $100,000 but was still up roughly 2.5% on the day.

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$1.2B

Yaël Bizouati-Kennedy10h

Crypto liquidations reached $1.2 billion in the past 24 hours, according to CoinGlass data, as bitcoin continued its downward trajectory. Bitcoin suffered $458.24 million in liquidations, with the bulk of them — over $334 million — in long positions. Meanwhile, the second-biggest crypto, ethereum, saw the second-biggest figure for liquidations yesterday, with $278 million.

Bitcoin slipped as far as $103,856 early Friday morning, its lowest level since July, and is down 13% in the past seven days. The sell-off dragged the total crypto market cap down to $3.67 trillion, down 5.5%. Underscoring the market anxiety, CoinMarketCap’s fear and greed index is now at 28.

Bitcoin ETFs also suffered, registering $536 million in outflows on Thursday. The Ark 21 Shares Bitcoin ETF took the biggest hit, with $275.15 million in outflows. Since Monday, bitcoin ETFs have seen $864.5 million in outflows.

Maja Vujinovic, CEO and cofounder of digital assets at FG Nexus, told Sherwood News that bitcoin’s slump looks like a classic risk-off chain reaction.

“Credit jitters and trade tensions pushed money into gold at record highs while leveraged crypto longs were forced to unwind. Once the liquidations exhaust and policy fog clears, the same macro buyers chasing safety today are likely to hunt value in BTC again,” Vujinovic said.

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An analyst noted that “flows and positioning, not fundamentals, are shaping the ETH story right now.”

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$15B

Yaël Bizouati-Kennedy10/15/25

The US government seized 127,271 bitcoin, worth $15 billion, in what it calls the Department of Justice’s “largest ever forfeiture action.”

The indictment against Chen Zhi, chairman of Cambodian conglomerate Prince Group, alleges that he engaged in wire fraud conspiracy using forced labor in Cambodia.

“Individuals held against their will in the compounds engaged in cryptocurrency investment fraud schemes, known as ‘pig butchering’ scams, that stole billions of dollars from victims in the United States and around the world. The defendant is at large,” according to a DOJ press release.

This is “exactly the kind of outcome the Strategic Bitcoin Reserve was designed to enable,” Zack Shapiro, managing partner at Rains Law and head of policy of the Bitcoin Policy Institute, said on X.

This significantly increases the size of the US’s strategic reserve, which held over 197,000 bitcoin before the seizure. As of today, Arkham Intelligence data shows it’s holding 324,780 bitcoin, worth over $37 billion.

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